MAS reiterates ML/TF responsibilities for the wealth management sector

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MAS Reiterates ML/TF Responsibilities for the Wealth Management Sector

The value of migration, modernisation, and security

In a circular published on 3 March 2023, the Monetary Authority of Singapore (MAS) reiterated its expectation that financial institutions (FIs) “stay vigilant” to the risks associated with money laundering and terrorism financing (ML/TF) in the wealth management sector.